International Commodity Exchanges
Major international commodity exchanges of the world are briefly discussed as below:
Chicago Mercantile Exchange (CME): It is a financial and commodity derivatives trading platform which has its headquarter in Chicago. It was established in 1898 as the Chicago Butter and Egg Board. Presently, Chicago offers contract of all kinds which includes agriculture, credit, equity index, interest rates and other futures/options investments.
Chicago Board of Trade (CBOT): It is formed in 1848 and being considered among oldest future/options trading exchanges in the world. The exchange offers more than 50 different futures and option contracts for investors which scattered over a number of asset classes.
New York Mercantile Exchange (NYMEX): The NYMEX is the world’s largest physical commodity futures exchange, which offers a wide variety of products. Commodity Exchange Inc. (COMEX) which acts as a division of the NYMEX also offers exposure to various metals contracts.
London Metal Exchange (LME): LME was established in 1877. However, it has its roots in 1571, when the Royal Exchange in London was founded, trading only copper at that time. It is a major exchange which offers exposure to futures and options of a various varieties of base metals and other commodity products. Some of the metals which have been traded include aluminum, copper, tin, nickel, zinc, and lead..
Intercontinental Exchange Inc. (ICE): The Intercontinental Exchange is an American company which operates futures and over-the-counter contracts through internet. In the beginning, the company was operating energy contracts but has increased its scope by offering exposure to a number of commodities including cocoa, cotton, sugar, iron ore, natural gas and crude products.
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